An ambitious global stocktake requires peaking global emissions by 2025, cutting emissions by 43pc by 2030 and agreeing on global CO2 cuts of 60pc by 2035, EU climate commissioner Wopke Hoekstra said, adding that "anything less would be a failure."
Hoekstra's comments were made today as the Cop 28 UN climate summit moves into its second week, when the final minister's negotiations take place. During the first week, he pointed to 2035 and the "crux" of the matter as a phase-out of fossil fuels.
He said that he sees an ambitious global stocktake agreement as necessary to keep "faith in the multilateral system".
The global stocktake is an undertaking required by the Paris Agreement to measure progress toward its goals to limit global warming to "well below" 2°C and preferably to 1.5°C. It is intended to inform the next round of emissions reduction plans, due in 2025.
"We have texts, options on the table, which, in the right combination, allow us to achieve these outcomes," said Hoekstra, noting the need to refine texts, reduce options and move towards consensus.
Earlier this week, Hoekstra had talked in more general terms of the Dubai having to set the bar high and mark the beginning of the end for fossil fuels.
Speaking alongside Hoekstra today, chair of the European Parliament's Cop 28 delegation Peter Liese said members are not ready to accept just any result from Dubai.
"We need a result that really addresses the challenges," said Liese, listing parliament's support for tripling of global renewable energy capacity, doubling energy efficiency, all by 2030, and a "tangible" phase-out of fossil fuels as soon as possible.
Liese has helped draft revisions of the bloc's emissions trading system (ETS) and other climate laws. The German centre-right member criticised the UAE and US for having per capita greenhouse gas (GHG) emissions that are more than double the EU level. The EU's per capita emissions were slightly below the G20 average of 7.9t of CO2 equivalent (tCO2e) in 2021, according to Unep. He said that EU expects to decrease them to 4tCO2e in 2030. He pointed to China's per capita emissions of around 9tCO2e, calling for more ambition globally so as to defend further EU climate action at home.
He also said that "destroying" the EU's carbon border adjustment mechanism (CBAM) would threaten not just EU climate ambition but also commitment to international climate finance, Liese warned.
CBAM, which will take effect from 2026, imposes a carbon price on imports of iron and steel, aluminium, cement, fertilizers, electricity and hydrogen to the bloc.
Some countries, including Brazil, have brought up the EU's CBAM at Cop 28. Chief climate negotiator Andre Correa do Lago criticised it, saying that it does not "help stimulate developing countries in their efforts towards fighting climate change."
